The Ford Motor Company has announced a new round of updates for the Mustang's 2016 model year, whose timing no doubt has been purposefully made to coincide with this week's arrival of an all-new Chevrolet Camaro.More >>

The Ford Motor Company has announced a new round of updates for the Mustang's 2016 model year, whose timing no doubt has been purposefully made to coincide with this week's arrival of an all-new Chevrolet Camaro.More >>

By Stephen Edelstein

Ferrari seems to have a monopoly on the world's most expensive cars. A 1963 Ferrari 250 GTO took that title last year with a $52 million sticker price. Yet it could be on the verge of being usurped... by another 250 GTO.

A seller in Germany recently placed an ad on the website Mobile for a 1962 250 GTO, with an asking price of 47.6 million euros, or about $62.7 million at current exchange rates. That includes Germany's 19 percent Value Added Tax, but if someone bites it would still make this GTO the most expensive car ever sold.

This particular example is one of the first of the 39 250 GTOs to have left Ferrari's factory. Each of the hand-built cars is a little bit different, perhaps creating a sense of uniqueness that could explain the recent frenzy of multimillion 250 GTO dollar sales.

This trend doesn't look like it will run its course anytime soon. The 19th 250 GTO—built in September 1962—is set to cross the block at this year's The Quail, A Motorsports Gathering event on August 15.

The 250 GTO isn't the only vintage Ferrari model commanding sky-high prices. A 1954 375-Plus crossed the block at $18.3 million at the Bonhams auction held at the 2014 Goodwood Festival of Speed, and a 1965 275 GTB/C Speciale could sell for at least $34 million at the RM Auctions event in Monterey, California, this August.

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